Importance The article analyzes the impact of the Phillips curve macroeconomic indicators on economic growth. Objectives The article aims to examine the theoretical limits of the Phillips curve and show actual macroeconomic indicators in the current phase affecting the socio-economic development, and also show that reducing inflation by optimizing production, costs and unemployment in the recession yields short-term economic growth. As well, the article aims to identify and propose measures and activities that contribute to real economic growth. Methods For the study, we used a method of expert estimation. Results The article proposes a number of new institutions to promote the regional economy in the world. It identifies the theoretical limits of the Phillips curve during the stagflation period. The paper formulates new opportunities to reduce inflation-unemployment in each particular region, with certain lags and conditions, and it presents the New Concept of National Market Development and Geoeconomic Map. Conclusions and Relevance We come to a conclusion that the mirror reflection of the Phillips curve (in stagflation), i.e. the simultaneous reduction of inflation and unemployment through increased production and general employment of the population, gives rise to real economic growth. The activities proposed will allow regions, Russian subjects to improve socio-economic processes.
Vukovich G.G. [Regional aspects of labor market development]. Ekonomika: teoriya i praktika = Economics: Theory and Practice, 2011, no. 2, pp. 9–16. (In Russ.)
Gorid'ko N.P., Nizhegorodtsev R.M., Tsukerman V.A. Innovatsionnye vektory ekonomicheskogo rosta severnykh regionov: vozmozhnosti, otsenki, prognozy: monografiya [Innovative vectors of economic growth of the northern regions: opportunities, estimates, projections: a monograph]. Apatity, Luzin Institute for Economic Studies of Kola Science Centre, Russian Academy of Sciences Publ., 2013, 199 p.
Sukharev A.N. [The Specifics of the Formation of the Financial Standing of the Central Bank as a Special Economic Institution]. Den'gi i kredit = Money and Credit, 2015, no. 10, pp. 29–33. (In Russ.)
Ershov M.V. [About long-term money in the post-crisis environment]. Vestnik finansovogo universiteta = Bulletin of the Financial University, 2011, no. 4, pp. 5–8. (In Russ.)
Aganbegyan A.G. [New Model of Economic Growth of Russia]. Upravlencheskoe konsul'tirovanie, 2016, no. 1, pp. 31–46. (In Russ.)
Kudrin A.L., Gurvich E.T. [A New Growth Model for the Russian Economy]. Voprosy Ekonomiki, 2014, no. 12, pp. 4–36. (In Russ.)
Loginov E.L., Loginova V.E. [Strategic approaches to the use of ruble as a regional reserve currency in the post-crisis model of international monetary and financial relations]. Ekonomika: teoriya i praktika = Economics: Theory and Practice, 2013, no. 2, pp. 8–12. (In Russ.)
Inshakova E.I., Voloshina A.Yu. [Megaclusters: essence and role in nanoindustry network infrastructure forming]. Ekonomika: teoriya i praktika = Economics: Theory and Practice, 2014, no. 4, pp. 25–32. (In Russ.)
Drobyshevskaya L.N., Shevchenko K.I. [Global financial architecture: prospects for the establishment of new financial centers]. Ekonomika: teoriya i praktika = Economics: Theory and Practice, 2010, no. 2, pp. 4–11. (In Russ.)
Rykova I.N., Smirnov M.A., Gordeev A.V. [Wholesale distribution centers for decision of agricultural products loss problem]. Ekonomika: teoriya i praktika = Economics: Theory and Practice, 2014, no. 4, pp. 51–56. (In Russ.)
Egorova L.I., Korobeinikova M.S. [Tools of perfection of regulation of the foreign trade activities of managing subjects on the example of the Krasnodar Krai]. Ekonomika ustoichivogo razvitiya = Economics of Sustainable Development, 2013, no. 15, pp. 50–56. (In Russ.)
Maslennikov M.I. [Problems of Foreign Economic Relations Development of Ural Regions with BRICS Countries]. Ekonomika regiona = Economy of Region, 2015, no. 2, pp. 95–112. (In Russ.) doi: 10.17059/2015-2-8
Shevchenko I.V., Korobeinikova M.S. [Prospects and innovative mechanisms for the Customs regulation of the Russian Federation (on the example of Krasnodar Krai)]. Ekonomika: teoriya i praktika = Economics: Theory and Practice, 2015, no. 4, pp. 3–12. (In Russ.)
Balikoev V.Z. [The Phillips curve: a myth or reality?]. Sibirskaya finansovaya shkola = Siberian Financial School, 2012, no. 3, pp. 3–9. (In Russ.)